The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1887-09-28
REVIEW OF TRADE.
Governments Change Of Policy Brings Hops
ILLNESS to Minsy Markets.
Wall street Looks for All of the ST., OO0,-
600 But Will Not Get it-Interior Re-
ports-GoId ArriyinE-Fauures.

NEW YORK. September Or. G. Dun &
Co.'S. weekly review of trade says: A sud
den change in the Governments policy
brings hopefulness to the local money
market. Possibly, indeed, too much may
be expected. Treasury purchases cannot
entirely remove the consequences OF short
CROPS, harmful speculation, overhasty de
velopment. or the. change of active into
fixed capital. Wall street looks for the
whole of the $14, Goo 600, but large part
of the bonds Will come from the interior,
and the money will go thither. Much of
it is wanted to meet commitments In new
enterprises, and may be so absorbed. The
speculative advances in prices which at
once begun, will make more money needed
to carry the same stocks or products. The
country is now using, outside the treasury
S., 1923 600, 600 of various kinds of money
and clear addition of one per cent would
not go very far. But the disbursement
will not be wholly addition of currency to
the sum in use, because Government re-
csipts exceed regular expenditures by 81,
100000 or more each week.
The best of it is that the treasury has
done, and so many be expected to do
whatever it can TO avoid disturbance.
While money Is instantly made easier IN
the interior. Effects of absorption of cap
iial in building and rapid DEVELOPMENT
are each week felt more clearly. At Cleve-
land money is very close. At Chicago the
constant demand from country towns
causes q pressure of which no relaxation
at present is expected. Recent failures
cause caution st Philadelphia Former
failures also cause pressure at Cincinnati
where per cent. is commonly paid; al
since the Grant-Ward failure" At Kansas
City, Omaha and Milwaukee, money il
close, and from nearly all points collec
tons are reported 'slow, or only fair.
During the past week the treasury has
paid out s., SOC, 900 more than it hiss taken
in, so that its payments exceed its receipt;
for the month by 81, 1OO, 600.
Gold continues to arrive from Europs,
but no more is shipped; the m srcaandise
exports from New York for three weeks
are per cent above last year, against an
increase OF 10% per cent in Imports here.
Tt is still the fact that gold comes only fol
investment or speculation, so that dis
couragement might turn the tide. Clear.
ings continue to show an increase over last
year, for last week ~ per cent; this, how
ever, includes large payments on account
of bnilding and speculation.
Some depression reaults from recent fail
Ures in the iron trade, and from continued
heavy importations, aud while the best
brands OF pig are firm, the heavy output
tends to weaken other grades. One large
order for rails has been cancelled. Boot
and shoe sales are not up to recent ex
pectations, travellers reporting orders con
trscted by monetary pressure. Leather
and hides are consequently dull
and some Stacking in the wool
en- goods trade checks the late pTomis:
of greater activity in wool. Dry goods ex
perience some reaction from the unusua
activity of recent works, but prices ar,
firmly held. Prices in the stock marke
declined Monday and Tuesday to the loves
of the year, but have recovered smartly
Wheat is also lifting little and new spec
ulation appears in oil, with some advance
In coffee. The tendency for the amount Il
to advance prices in all markets on account
of treasury disbursements, but the short
ness of crops and the absorption of capita
into fixed forms must still have some in
duence.
The business failures during the Las
seven days number for the United State
156 and for Canada twenty-seven, a total o
183 as compared with 1873 last week and Is
for the corresponding week of 1886.